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Mortgage Rates Weekly Update for September 24, 2018

Mortgage Rates Updatefor September 24, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware Loan Officer and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 for a Rate Quote or Apply Online for Rate Quote

Mortgage Rates continued to move higher last week as mortgage bonds sold off as the stock market rallied higher . If you look at the Fannie Mae 4.0% mortgage bond chart below you can see mortgage bonds are in a downward trend that started at the end of August shown with the black arrow. Mortgage bonds were able to find a floor of support on Wednesday and held Thursday and Friday at that floor of support so we are recommending FLOATING your mortgage rate to start the week to see if mortgage bonds can rally higher off this floor of support.Keep Reading...

Understanding the Delaware VA IRRRL Refinance Mortgage Loan

Delaware homeowners with existing VA mortgages have an option for refinancing called the Delaware VA IRRRL Refinance Mortgage Loan. Commonly known as the VA Streamline Refinance, the program simplifies home refinancing for Delaware Veterans by waiving documentation typically required by lenders, including income information, employment verification, bank account and credit score verification, and even an actual appraisal of the home. Call the John Thomas Team at 302-703-0727 with questions or to get started with a VA Loan. You can also APPLY ONLINEKeep Reading...

Mortgage Rates Weekly Update for September 17, 2018

Mortgage Rates Updatefor September 17, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware Loan Officer and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 for a Rate Quote or Apply Online for Rate Quote

Mortgage Rates moved higher last week as mortgage bonds fell following through on a sell off that started with the Jobs Report the previous week. If you look at the Fannie Mae 4.0% mortgage bond chart below you can see mortgage bonds are in a downward trend that started at the end of August. As mortgage bonds sell off and move lower, mortgage interest rates move higher. Bonds ended the week below a layer of support which will now be a resistance, if they break below the next floor which they are sitting on, there is plenty of room to fall before reaching the next floor of support. US Treasuries have moved up and ended the week at 3.0% and will probably move up to 3.1% before finding a ceiling of resistance. With all of this headwind for bonds, we are recommending LOCKING Your mortgage rate to start the week.Keep Reading...

Mortgage Rates Weekly Update for September 10, 2018

Mortgage Rates Updatefor September 10, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware Loan Officer and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 for a Rate Quote or Apply Online for Rate Quote

Mortgage Rates ended the week higher as mortgage bonds sold off on Friday after the August Jobs Report was released. If you look at the mortgage bond chart below you can see mortgage bonds started the week on Tuesday by selling off and continued on Wednesday but were able to find a floor of support and produce a good technical signal that was followed through on Thursday with a rally shown with the green candle. Mortgage bonds on Friday sold off and gave back all the gains after the jobs report was released. Mortgage bonds broke through the floor of support at the 100 day moving average and broke through another floor of support set back on August 3rd. With more room to the downside for mortgage bonds, we are recommending LOCKING your mortgage rate to start the week to protect yourself from mortgage interest rates moving higher.Keep Reading...

Mortgage Rates Weekly Update for September 3, 2018

Mortgage Rates Updatefor September 3, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware Loan Officer and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 for a Rate Quote or Apply Online for Rate Quote

Mortgage Rates moved higher last week as mortgage bonds were turned lower by a tough ceiling of resistance. If you look at the Fannie Mae 4.0% mortgage bond chart below you can see mortgage bonds started the week on Monday with a red candle which meant mortgage bonds sold off. Bonds fell to a low on Wednesday when they were able to find a floor of support at the 25 moving average. Bonds were able to rally higher on Thursday and Friday and ended the week just above support at the 50 day moving average. We are recommending FLOATING Your mortgage rates to start the week to see if mortgage bonds can make a run at the tough overhead resistance at 101.988 on the chart.Keep Reading...

Mortgage Rates Weekly Update for August 27, 2018

Mortgage Rates Updatefor August 27, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware Loan Officer and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 for a Rate Quote or Apply Online for Rate Quote

Mortgage Rates ended the week about where they started after failing to break above tough ceiling resistance. If you look at the Fannie Mae 4.0% Mortgage Bond Chart below you can see mortgage bonds have been on an upward trend since bouncing off a floor of support on July 30th. Mortgage bonds has been capped at very strong ceiling of resistance that bonds have not been able to break above since May but have come up against 4 times this week. If mortgage bonds can break above this ceiling of resistance it would be significant and would mean a big potential upside for bonds so we are recommending FLOATING Your mortgage rate to start the week.Keep Reading...